Streaming music platform Pandora has just announced it has acquired ticket-selling site Ticketfly, in a deal valued at around $450 million.
Pandora says it will help in "achieving Pandora’s mission to help artists find their audience and help listeners find the music they love—whether it’s coming through their earbuds or live on stage."
Ticketfly boasts that it works with around 1,200 concert venues and promoters.
“This is a game-changer for Pandora – and much more importantly – a game-changer for music,” said Pandora CEO Brian McAndrews. “Over the past 10 years, we have amassed the largest, most engaged audience in streaming music history. With Ticketfly, we will thrill music lovers and lift ticket sales for artists as the most effective marketplace for connecting music makers and fans.”
Pandora lays out this vision for its Ticketfly integration:
The combination of Pandora and Ticketfly will solve the longstanding problem of event discovery by seamlessly connecting Pandora’s nearly 80 million monthly active music fans to events they’ll love. This will enable artists and promoters to sell out more shows and will strengthen the bond between artists and their fans. The companies will also harness the power of their combined data to create new tools for music makers to increase their revenue and improve recommendations for fans to enhance their overall music experience.
Pandora has been making moves to get beyond simply offering internet radio, and has been pushing a mission of "connecting artists with fans" for some time now. Last fall, it announced its Artists Marketing Platform, a set of analytics tools for artists. And earlier this year the company began to allow artists send personalized messages to their listeners – messages that can take the shape of tour announcements, news about a new album, or song-specific descriptions.